Profits: Battle of Behemoths

With corporate profits consistently and
spectacularly on the rise for the last ten quarters, a seesaw,
record-smashing battle of behemoths is going on. Last year General
Motors reported earnings of $1.459 billion on sales of $14.6 billion,
more than any corporation anywhere had ever earned in a single year.
Last week, however, an old champion regained the crown. Reporting on
the twelve months that ended Nov. 30, A.T. & T. Chairman Frederick R.
Kappel informed his 2,250,000 shareholders that the telephone company
and its sprawl of subsidiaries had net income of $1.522...